Access Bank Sierra Leone Limited has announced the appointment of Maurice Nathaniel Cole and four other non-executive directors.

According to a press statement made available to Nairametrics by Access Holdings Plc, the new executives to its Board of Directors will further strengthen its leadership team and advance the implementation of its growth and transformation strategy.

It added that the appointments also reflect the Bank’s commitment to fostering growth and development while maintaining the highest standards of governance and stewardship.

Joining the Board as Non-Executive Directors are Maurice Nathaniel Cole, Nsikak N. Usoro, Michala Mackay, Ibrahim Khalil Lamin, and Kolawole Augustine Ajimoko.

The group noted that the appointees boast a wealth of expertise from diverse sectors, including banking, telecommunications, corporate governance, compliance, and finance.

Their combined experience and vision will contribute to shaping the future trajectory of Access Bank (SL) Ltd.

Cole will serve as Chairman, following the exit of Alice Marie Onomake and will bring his experience to the fore as Access Bank (SL) Ltd works to consolidate its market position and deliver value for all its stakeholders.

We are thrilled to welcome our new executives to Access Bank (SL) Ltd,” said Ganiyu Sanni, Country Managing Director, Access Bank Sierra Leone Ltd. “Their leadership and vision will be invaluable as we navigate through challenges and pursue sustained success. We extend our gratitude to outgoing Chairman, Alice Marie Onomake, and Non-Executive Director, Aminata B. Dumbuya, for their dedicated service and contributions to the Bank.”

He noted that Access Bank (SL) Ltd remains committed to excellence, transparency, and accountability as it embarks on this exciting new chapter.

According to him, the Bank looks forward to leveraging the collective expertise of its leadership team to drive innovation, foster growth, and create lasting impact for its customers and communities.

Workers have stormed various offices of electricity distribution companies to protest over the Band A tariff hike.

The workers, under the aegis of the Nigerian Labour Congress and the Trade Union Congress, thronged the offices of the DisCos on Monday, preventing workers from resuming work for the day.

In Lagos, the workers were sighted at the corporate headquarters of the Ikeja Electricity Distribution Company, singing and calling for the reversal of the Band A tariff.

In Oyo, protesters stormed the office of the Ibadan Electricity Distribution Company, picketing the same.

It was gathered that policemen were in attendance to forestall any breakdown of law and order.

The NLC and TUC gave the Nigerian Electricity Regulatory Commission a seven-day ultimatum to reverse the revised tariff.

However, the Federal Government said a reversal of the tariff would spell doom for the power sector, urging Nigerians to bear the temporary pains.

Amid this, the International Monetary Fund has advised the Federal Government to remove electricity subsidies in other bands to save the economy.

The exchange rate for import duties collection by the Nigerian Customs Service (NCS) has risen to N1457/$, the highest in just over six weeks, according to checks on the exchange rate portal of the NCS.

According to data on the portal, the current customs exchange rate is the highest since the 22^nd of March 2024 when the figure stood at N1572.5/$.

There has been a gradual appreciation of the naira after that, occasioned by policies of the Central Bank of Nigeria (CBN) which saw the NCS’ exchange rate fall to a three-month low of N1147/$.

However, the naira seems to have lost the gains made in March, in which it became the best performing currency in the world for the month, according to analysis from Goldman Sachs bank.

An earlier analysis by newsmen on the performance of the naira in the month of May reveals that it has weakened by 26% since the declaration by CBN and other institutions of its status as the best performing currency in the world.

The naira on Friday closed at N1466/$ on the official window, according to data from FMDQ. In the parallel market, the exchange rate stood at N1470/$, according to information from operators in that space.

The decline in the value of the naira since April coincides with the end of the sale of FX to BDCs below the official market rate. The Central Bank of Nigeria (CBN) intervened in the FX market by selling $10,000 to Bureau De Change (BDC) operators just below the official market.

This event coincided with a drop in the country’s foreign reserves, which led analysts to opine that the apex bank was defending the naira with the country’s FX reserves.